Compared to gold, it's hilariously good. Every time you transfer gold, you have to take risk to get it to its destination and then the recipient has to either trust you, or melt it down to check you didn't put tungsten in it.

Transfer of other things is pretty much always mediated by a custodian, which means there's someone out there holding and protecting the underlying asset - and then you have to pay for that protection.

Either you're paying a vaulting fee, property tax, or such up front, or you're holding an asset like dollars where the protection fee is pulled out of the value of the asset by printing.

Arguably bitcoin is in the second category because "happened before" relationship of transactions is protected by mining, but that fee is lower and more predictable than it is with dollars, which get printed for any old reason, subject to the whim of politicians.